6711 Tujunga AVE Active

North Hollywood,CA 91606

$ 2095000

- Bed

- Bath

5311 SqFt


Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 5,311 sqft

Price per Sqft $394

MLS Listing ID SR24056706

Year Built 1953

Lot Size 0.312 Acres

Property Description

The Tujunga property currently consists of thirteen multifamily units with two, one bedroom one bath units and eleven singles
individually metered for electric. The property is professionally maintained and the square footage of the combined, individual parcels gives the property an excellent potential for redevelopment. The rent survey conducted for this property indicates significant upside upon the relaxation of Covid restrictions by both the City and County of Los Angeles. Rents have not been increased for some time and the rent increase freeze may be lifted early2024. With upgrades, Tujunga Apartments could achieve rent levels commensurate with those properties surveyed. It is also important to note that the comparables chosen are low to mid-range at the time of publication and, depending on the improvements contemplated by the investor, actual rent targets could be higher.

Location

State CA

County Los Angeles

Area Nho - North Hollywood

Zoning LARD1.5

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Laundry Common Area

Exterior

Garage Assigned,Asphalt

Pool None

Community Features Valley

Building

Lot Description Street Level

Story 1

Foundation Slab

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash to Existing Loan

Listing Terms Cash to Existing Loan

Special Listing Condition Standard

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